Online youth entertainment and media network GoFish Corporation has announced its first quarter results, reporting an increase in revenue to $657,150, as compared to $24,074 for the same period in the previous year. GoFish attributed the year-over-year increase to higher sales from advertising sold across its network of owned and affiliated publisher websites.

GoFish is the exclusive brand advertising partner for its network of youth-focused sites, including WeeWorld, Magi-Nation: Battle for the Moonlands, Whyville, and other properties targeting the six- to seventeen-year-old demographic and their co-viewing parents. The company launched its youth-targeted online media network in February and signed several new publishers in Q1 2008, growing its audience reach from approximately 10 million unique users to over 20 million unique users as of April 30, 2008.

GoFish also expect to realize greater revenue in subsequent quarters as the sales cycle matures and its network continues its expansion, reporting its full-year revenue guidance projections between $8.5 million and $11 million.

Said GoFish president Tabreez Verjee: “In only a few short months, we have successfully refined our business model, engaged top-tier industry professionals, secured dozens of leading brand advertisers, and built our network to be a leader focused on the youth demographic and the third largest opportunity for advertisers behind Disney Online and Nickelodeon. We are confident that 2008 will be a strong year for us. We continue to secure new relationships and grow our existing ones. We have built a strong foundation, and we are well-positioned to take advantage of favorable trends in the market.”